6 months ago
2
Justice G. Jayachandran of the Madras High Court connected Friday (November 14, 2025) recused from proceeding an archetypal broadside entreaty filed by actor-producer Vishal Krishna against a azygous judge’s bid directing him to wage ₹30.05 crore to Lyca Productions, on with involvement astatine the complaint of 30% from February 16, 2021, until the day of payment.
The Division Bench comprising Justices Jayachandran and Mummineni Sudheer Kumar directed the High Court Registry to database the entreaty earlier the alternate Division Bench of Justices N. Sathish Kumar and M. Jothiraman arsenic per the lasting instructions issued by Chief Justice Manindra Mohan Shrivastava.
Justice Jayachandran told elder counsel A.K. Sriram, representing the appellant, that helium had dealt with Lyca Production’s civilian suit filed against the actor portion sitting arsenic a azygous justice and therefore, it would not beryllium due connected his portion to perceive the entreaty filed against the decree passed successful the aforesaid suit.
Along with the appeal, the histrion had besides filed a petition seeking to enactment each further proceedings pursuant to the decree passed by the azygous justice connected June 5, 2025, successful a 2021 civilian suit filed against him by Lyca Productions.
What is the lawsuit about?
The contented relates to a indebtedness of ₹21.29 crore, which the histrion had reportedly taken from Lyca Productions successful 2019 to settee his dues to movie financier Anbuchezhian of Gopuram Films which, successful turn, had financed his movie Marudhu in 2016, but could not retrieve the dues till 2019.
Lyca had filed the civilian suit successful 2021 for the betterment of ₹30.05 crore, on with involvement astatine the complaint of 30% connected the main magnitude of ₹21.29 crore from the day of filing of the suit till the day of realisation. After a full-fledged trial, Justice P.T. Asha had decreed the suit connected June 5, 2025, and hence, the contiguous appeal.
While decreeing the suit, the justice had refused to judge the statement of the histrion that the levy of involvement astatine the complaint of 30% per annum by financiers successful the movie manufacture was usurious and against the provisions of the Tamil Nadu Prohibition of Charging Exorbitant Interest Act, 2003.
She besides recovered the histrion to person made mendacious averments connected oath successful the lawsuit and rejected his assertion of having signed the indebtedness statement with Lyca Productions Private Limited successful 2019 without speechmaking its contents. She besides said, the histrion was not forthcoming with his slope statement.
Defending the suit filed against him, the histrion denied having taken a indebtedness of ₹21.29 crore either from Gopuram Films oregon Lyca Productions. He said, Marudhu was produced by Gopuram Films and and hence, the question of taking a indebtedness would not originate astatine each erstwhile helium had lone acted successful the movie for remuneration.
He besides claimed to person had a fiscal dealing lone for a sum of ₹12 crore with Gopuram Films and said that helium had signed the “one-sided” statement with Lyca successful 2019 without speechmaking each of the clauses due to the fact that helium had reposed full spot upon the accumulation institution and did not expect immoderate foul play.
He besides argued that the involvement complaint of 30% demanded by Lyca was usurious and exorbitant. On the different hand, elder counsel V. Raghavachari, representing Lyca Productions, had told the tribunal that 30% was the modular complaint of involvement levied by movie financiers due to the fact that they springiness distant crores of rupees successful loan.
After signaling their submissions, Justice Asha recalled that the High Court had successful Indiabulls Financial Services Limited versus Jubilee Plots and Housing Private Limited (2010) refused to interefere with the 33% involvement rate, and held that it would not beryllium violative of the provisions of the 2003 Act.
Then, the tribunal had categorically stated that the 2003 Act was intended to support gullible radical who get tiny amounts of indebtedness and get slapped with usurious involvement rates and not for mammoth indebtedness transactions carried retired for immense sums nether the Negotiable Instruments Act of 1881.
“In the instant case, the suspect (Mr. Vishal) has signed the dotted lines agreeing to wage involvement astatine 30% p.a... After having promised the plaintiff (Lyca) that the magnitude would beryllium repaid with involvement astatine 30% p.a., the suspect is present attempting to renege connected his agreement,” Justice Asha concluded.
